US EditionUS Faces Potential Default as Debt Ceiling 'X-Date' Approaches Mid-July
- The United States may default on its bills by mid-July if Congress does not raise the debt limit, according to the Bipartisan Policy Center's analysis.
- The debt ceiling, currently capped at $36.1 trillion, could cause major issues if not addressed soon, impacting fiscal stability and market confidence.
- Margaret Spellings emphasized the importance of responsible budgeting and avoiding debt limit brinksmanship to ensure economic stability.
- The national debt is now nearing $37 trillion, with a budget outline proposed by House Republicans aiming to raise the debt limit by $4 trillion.
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Lawmakers face deadline to raise debt ceiling or default on $36 trillion debt
(The Center Square) – Unless Congress suspends or raises the debt ceiling soon, the U.S. government could default on its $36.2 trillion debt by mid-July, according to the newest debt limit analysis.
US could default on debt as soon as July: Analysis
The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action. The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October. “Fiscal responsibility is not just about avoiding financial calamity time…
·Washington, United States
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Leaning Left5Leaning Right5Center11Last UpdatedBias Distribution52% Center
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C 52%
R 24%
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